summerella22
contestada

Jordan invested $800 in a savings account the interest rate is 6% per year find the simple interest earned in three years then find the total of principal plus interest

Respuesta :

Principal , P =$800

Rate , r = 6% = 0.06

Time , t = 3 years

Simple Interest = P*r*t = 800*0.06*3 = $144

Total Interest plus Principal = $800 + $144 = $944

bunnymarshmarloykw47
To find the total amount he get,we can first find the interest he would get per year:

$800×6%
=$800×0.06
=$48

In three years,the amount of interest he would get:
=$48×3
=$144

To find the total of principal and interest,we would add the interest he get in three years and the original amount he invested:

$144+$800
=$744

Hope it helps!